Ariz. Rev. Stat. » Title 10
Arizona Revised Statutes

Ariz. Rev. Stat. § 10-741 (2026)

Standing

✓ current as of May 2026
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A shareholder may not commence or maintain a derivative proceeding unless the shareholder both:

1. Was a shareholder of the corporation at the time of the act or omission complained of or became a shareholder through transfer by operation of law from one who was a shareholder at that time.

2. Fairly and adequately represents the interests of the corporation in enforcing the right of the corporation.

Notes of Decisions
Cited in 2 cases, 2015–2016 · leading case: Melinda S. Workman v. Verde Wellness Ctr., Inc., 382 P.3d 812 (Ariz. Ct. App. 2016).
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Melinda S. Workman v. Verde Wellness Ctr., Inc., 382 P.3d 812 (Ariz. Ct. App. 2016). · cites it 3× “But unlike a derivative suit brought under § 10-741, there is no requirement that a director of a nonprofit corporation “[f]airly and adequately represent ] the interests” of the corporation, see § 10-11430, by maintaining his or her status throughout the action, see City of…”
AEA Fed. Credit Union v. Yuma Funding, Inc., 346 P.3d 991 (Ariz. Ct. App. 2015). · cites it 2× “See A.R.S. § 10-741 (addressing standing of shareholder to bring derivative action); A.”
Ariz. Rev. Stat. § 10-741(A)(2): 1 case
Melinda S. Workman v. Verde Wellness Ctr., Inc., 382 P.3d 812 (Ariz. Ct. App. 2016). “But unlike a derivative suit brought under § 10-741, there is no requirement that a director of a nonprofit corporation “[f]airly and adequately represent ] the interests” of the corporation, see § 10-11430, by maintaining his or her status throughout the action, see City of…”
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